Travel industry veteran is new Royal Mail chair

I'm the digital editor at City A.M., and cover breaking news. I also co-host and co-produce the Unregulated podcast.

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Caitlin Morrison

Peter Long is TUI’s co-chief executive

ROYAL Mail is set to name TUI Group boss Peter Long as its next chairman, replacing Donald Brydon who has been in the role since 2009.

Long, a veteran of the travel industry, will be revealed as the company’s new leader as early as today, Sky News first reported.

London-listed TUI, which owns brands such as Thomson, Corsair and First Choice, had previously announced that Long would step down as co-chief executive in February next year and instead take on the chairman position.

Royal Mail recently reported stagnant revenue growth for the year ending 29 March, at £9.3bn, and a four per cent fall in letter volumes. Parcel volumes increased by just half of what was expected at three per cent, with parcel revenue inching up only one per cent. The disappointing growth in parcel revenue followed renewed pressure from companies such as Amazon, which has forced pricing down.